Mr. Cale Moodie reports

NEPTUNE DIGITAL ASSETS ANNOUNCES ADDITIONAL INVESTMENT IN SPACEX AND CORPORATE UPDATE

Neptune Digital Assets Corp. has recently invested an additional $250,000 (U.S.) into SpaceX (Space Exploration Technologies Corp.). Neptune now holds approximately 26,770 shares in SpaceX through a third party.

SpaceX is an American spacecraft manufacturer, space launch provider and satellite communication provider. SpaceX was founded in 2002 by Elon Musk and has the goal of reducing the cost of space transportation and to enable the colonization of Mars.

The Neptune investment into SpaceX is through an arm's-length party. "We are encouraged by the progress SpaceX has made since our initial investment in July, 2022. From securing additional government contracts of up to $100-million (U.S.) for space travel to demonstrating the invaluable role of Starlink during the Ukraine conflict and throughout the world, we are excited to increase our shareholders' exposure to one of the most exciting opportunities of our time. This investment further diversifies our balance sheet while providing additional potential upside," said Cale Moodie, chief executive officer and president.

Corporate update

Neptune is pleased to provide shareholders with a brief financial update ahead of the coming release of its Q3 financials within the next three weeks. Neptune boasts approximately $40-million in assets, carries no debt and holds a robust cash position of approximately $11-million. The company's strong financial standing ensures that there will be no immediate need for capital raising. Neptune currently has 257 bitcoin (BTC) in cold storage and an additional 64 BTC under Chapter 11 claims with Genesis and Celsius.

The company will provide a more in-depth financial update when Q3 results are released at the end of July, 2023.

About Neptune Digital Assets Corp.

Neptune Digital Assets is one of the first publicly traded blockchain companies in Canada and is a cryptocurrency and blockchain infrastructure leader with operations across the digital asset ecosystem, including bitcoin mining, proof-of-stake mining, blockchain nodes, decentralized finance (DeFi) and other associated blockchain technologies.

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